Jump Financial LLC Makes New Investment in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Jump Financial LLC purchased a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,819 shares of the company's stock, valued at approximately $531,000.

A number of other institutional investors have also recently made changes to their positions in SLNO. AlphaQuest LLC lifted its holdings in Soleno Therapeutics by 1,154.4% in the fourth quarter. AlphaQuest LLC now owns 715 shares of the company's stock valued at $32,000 after buying an additional 658 shares during the period. US Bancorp DE acquired a new position in shares of Soleno Therapeutics in the 4th quarter valued at about $34,000. Avanza Fonder AB bought a new stake in shares of Soleno Therapeutics during the 4th quarter valued at about $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new stake in Soleno Therapeutics during the fourth quarter worth approximately $81,000. Finally, Avior Wealth Management LLC bought a new stake in Soleno Therapeutics in the fourth quarter worth approximately $89,000. Institutional investors own 97.42% of the company's stock.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, insider Patricia C. Hirano sold 3,782 shares of Soleno Therapeutics stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total transaction of $265,156.02. Following the transaction, the insider now owns 27,036 shares of the company's stock, valued at $1,895,493.96. This trade represents a 12.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bhatnagar Anish sold 699,095 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $67.62, for a total value of $47,272,803.90. Following the completion of the transaction, the chief executive officer now owns 577,076 shares in the company, valued at $39,021,879.12. The trade was a 54.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 942,672 shares of company stock valued at $64,058,781 over the last ninety days. Corporate insiders own 12.30% of the company's stock.

Wall Street Analyst Weigh In

SLNO has been the subject of several recent analyst reports. Stifel Nicolaus raised their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Laidlaw lifted their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. HC Wainwright reiterated a "buy" rating and set a $100.00 price objective on shares of Soleno Therapeutics in a report on Tuesday, April 15th. UBS Group set a $105.00 target price on Soleno Therapeutics in a research note on Thursday, March 27th. Finally, Lifesci Capital raised Soleno Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 4th. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $104.67.

Soleno Therapeutics Stock Performance

SLNO traded up $1.11 during midday trading on Tuesday, reaching $74.75. 351,019 shares of the company were exchanged, compared to its average volume of 1,053,581. The company has a market cap of $3.73 billion, a price-to-earnings ratio of -22.52 and a beta of -2.29. Soleno Therapeutics, Inc. has a one year low of $36.93 and a one year high of $75.70. The company's fifty day moving average price is $57.94 and its 200 day moving average price is $53.01.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.41). As a group, sell-side analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Soleno Therapeutics Profile

Soleno Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate is Diazoxide Choline Extended-Release tablets, a once-daily oral tablet, which is in Phase III clinical trials for the treatment of Prader-Willi Syndrome.